ProSiebenSat.1 Ups 2021 Outlook

With third-quarter revenues up 15 percent to €1.05 billion, ProSiebenSat.1 Media has again raised its 2021 full-year outlook.

“We posted record quarterly revenues for the second time in a row and significantly improved our profitability over the course of the year—the result of our successful strategy,” said Rainer Beaujean, chairman of the executive board. “Our entertainment advertising revenues in the German-speaking region were even at the highest level in a third-quarter ever. This again underlines the strength and sustainability of our medium. At the same time, our good performance throughout the group proves that all signs point to growth also in the future. We have therefore raised our full-year targets once again.”

In the entertainment segment, which includes the group’s broadcast assets, external revenues rose 15 percent to €728 million in the quarter, boosted by an 18 percent improvement in ad revenues. Revenues from program production and distribution were up 20 percent.

For 2021, the company expects revenues of around €4.5 billion, a year-on-year increase of between 10 percent and 12 percent, following a previous forecast of 9 percent to 11 percent.